RCC Energy update Monday 08/13/2018
NYMEX @ the close.
- September WTI Crude down $0.43 @ $67.20
- RBOB down 2.45 cents.
- September HO down .27 cents.
- Gasoline down 3 cents.
- Diesel down 1 cent.
- LP finished down 1.5 cents at the Conway, Kansas hub.
Reports last week of crude and product demand being revised upward last week were greatly exaggerated. Now reports are coming out that they will be revised down.
Turkey’s economy is also in the news. The Turkish economy is in shambles and there is worry it will spread to Europe.
The market was a real roller coaster today, so I don’t think anyone has a real sense of what’s important.